Eli Lilly and Company (NYSE:LLY) Shares Up 2.5% - Here's Why

Key Points

• Eli Lilly's stock price rose by 2.5% to $840.46, with trading volume increasing 23% compared to the average daily volume.
• Several financial analysts have revised their price targets for Eli Lilly, with most maintaining a "buy" or "overweight" rating, while the consensus price target is $933.39.
• Institutional investors now hold 82.53% of Eli Lilly's stock, indicating significant confidence from large financial entities in the company's future prospects.

Shares of Eli Lilly and Company (NYSE:LLY - Get Free Report) were up 2.5% during mid-day trading on Friday . The company traded as high as $848.13 and last traded at $840.46. Approximately 5,079,870 shares changed hands during trading, an increase of 23% from the average daily volume of 4,129,429 shares. The stock had previously closed at $819.85.

Analysts Set New Price Targets

LLY has been the topic of several recent research reports. Morgan Stanley dropped their price target on Eli Lilly and Company from $1,028.00 to $1,023.00 and set an "overweight" rating on the stock in a research note on Friday. Wall Street Zen lowered Eli Lilly and Company from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 20th. Weiss Ratings reissued a "hold (c+)" rating on shares of Eli Lilly and Company in a research report on Saturday, September 27th. Guggenheim dropped their target price on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Finally, Cantor Fitzgerald dropped their target price on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average price target of $933.39.

Eli Lilly and Company Stock Up 2.5%

The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The firm has a 50 day simple moving average of $734.60 and a 200-day simple moving average of $766.47. The stock has a market cap of $795.47 billion, a P/E ratio of 54.93, a price-to-earnings-growth ratio of 1.14 and a beta of 0.47.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the prior year, the company earned $3.92 earnings per share. The business's revenue for the quarter was up 37.6% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Insider Activity at Eli Lilly and Company

In other news, Director J Erik Fyrwald acquired 1,565 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the acquisition, the director directly owned 74,578 shares in the company, valued at approximately $47,903,686.74. The trade was a 2.14% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David A. Ricks acquired 1,632 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the acquisition, the chief executive officer owned 546,601 shares of the company's stock, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 4,514 shares of company stock valued at $2,894,841. Insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Eli Lilly and Company

A number of hedge funds and other institutional investors have recently made changes to their positions in LLY. PNC Financial Services Group Inc. raised its position in Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares in the last quarter. Laurel Wealth Advisors LLC raised its position in Eli Lilly and Company by 78,621.2% during the second quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company's stock valued at $9,005,392,000 after purchasing an additional 11,537,661 shares in the last quarter. Norges Bank acquired a new position in Eli Lilly and Company during the second quarter valued at approximately $8,827,714,000. Nuveen LLC acquired a new position in Eli Lilly and Company during the first quarter valued at approximately $4,613,912,000. Finally, Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 6.7% during the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after buying an additional 4,975,395 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.

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